Hodges Capital Management Inc. Buys 99,948 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

Hodges Capital Management Inc. grew its holdings in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 27.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 465,483 shares of the communications equipment provider's stock after buying an additional 99,948 shares during the period. Hodges Capital Management Inc. owned 3.67% of Aviat Networks worth $10,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Aviat Networks during the 2nd quarter worth about $29,000. NBC Securities Inc. bought a new position in Aviat Networks in the 3rd quarter valued at about $62,000. Dynamic Technology Lab Private Ltd acquired a new stake in Aviat Networks during the third quarter worth approximately $263,000. BNP Paribas Financial Markets increased its stake in shares of Aviat Networks by 635.0% during the third quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider's stock worth $308,000 after purchasing an additional 12,306 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in Aviat Networks during the 3rd quarter worth approximately $357,000. 78.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Aviat Networks

In other news, CEO Pete A. Smith bought 3,000 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the purchase, the chief executive officer now directly owns 298,539 shares in the company, valued at $4,218,356.07. The trade was a 1.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Connaway acquired 3,500 shares of Aviat Networks stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $14.13 per share, with a total value of $49,455.00. Following the completion of the transaction, the chief financial officer now directly owns 57,893 shares in the company, valued at $818,028.09. This represents a 6.43 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 7,400 shares of company stock valued at $106,110. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVNW. Roth Mkm dropped their target price on Aviat Networks from $43.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. StockNews.com downgraded shares of Aviat Networks from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Northland Securities lowered their target price on shares of Aviat Networks from $40.00 to $35.00 and set an "outperform" rating on the stock in a report on Tuesday, October 8th. B. Riley cut their price target on Aviat Networks from $55.00 to $42.00 and set a "buy" rating for the company in a research note on Friday, September 13th. Finally, JMP Securities reissued a "market outperform" rating and set a $50.00 price target on shares of Aviat Networks in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Aviat Networks currently has an average rating of "Moderate Buy" and an average target price of $38.60.

Aviat Networks Price Performance

NASDAQ:AVNW traded up $0.30 during mid-day trading on Friday, reaching $17.38. The stock had a trading volume of 170,767 shares, compared to its average volume of 253,234. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $38.85. The stock has a market capitalization of $220.55 million, a PE ratio of -56.06 and a beta of 1.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40. The stock has a 50-day simple moving average of $18.60 and a two-hundred day simple moving average of $24.50.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last announced its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The firm had revenue of $116.66 million for the quarter. On average, equities analysts anticipate that Aviat Networks, Inc. will post 1.13 earnings per share for the current year.

Aviat Networks Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.